Must the subsidiary be controlled by the parent company for more than 50%?

Are you talking about the investment relationship between the parent company and its subsidiaries? The parent company does not have to own more than 50% of the shares of its subsidiaries, because the subsidiaries may be invested by many companies. In order to achieve holding, the parent company only needs to hold more shares than other shareholders in the total share capital of the subsidiary. For example, other shareholders own 20% of the total share capital of the subsidiary, and the parent company can hold shares as long as it owns more than 20%, such as 30%.